A Citigroup insider, who claims to be a consultant, has said that the bank is under pressure to cut costs amid earning concerns.
Hi everyone. I work as a consultant at Citigroup.
Last week our head honcho let us know cuts are beginning. I met with my manager to get more of the skinny.
Citigroup plans to cut a billion dollars of costs this year, to show “profit”. They are cutting headcount in expensive areas (NY, London, etc.), and plan to cut time and material consultants in non-profit making areas and are thinning employee ranks. I started job hunting immediately.
The banks know bad times are coming.
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